Bhubaneswar Buzz

Indian Oil to invest Rs 40 billion in its Paradip refinery in Odisha

IOCL paradip

Indian Oil (IOC) is reportedly planning to invest Rs40bn ($597m) to upgrade its Paradip refinery in Odisha.

Reuters reported a senior company executive saying that the Ministry of Petroleum and Natural Gas, Ministry of Heavy Industries, Ministry of Environment Forests and Climate Change and Ministry of Road Transport and Highways agreed recently to introduce the BS VI emission norms within four years instead of April 2021.

The agreement will see the introduction of road vehicle fuels that are compliant with Euro VI emission standards to combat increasing pollution in India.

The refinery is spread across 3,344 acres and was commissioned in 2015. It has a capacity of 300,000 barrels per day.

More details from Hydrocarbons-technology website